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Press release

Siemens Healthineers receives U.S. antitrust clearance for proposed merger with Varian

Published on October 23, 2020

Siemens Healthineers AG (Frankfurt: SHL) announced today that the antitrust-related condition precedent to its proposed merger with Varian Medical Systems, Inc. (“Varian”, NYSE: VAR) has been met in the U.S. following the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as of October 22, 2020, 11:59 pm ET. The U.S. Federal Trade Commission has permitted the transaction to proceed.

“With antitrust clearance obtained in the U.S., we are advancing the completion of our merger with Varian to make two leaps in one step: a leap in the fight against cancer and a leap in our overall impact on healthcare,” said Bernd Montag, CEO of Siemens Healthineers AG.

The closing of the transaction remains subject to receipt of regulatory approvals in other countries and satisfaction of certain other customary closing conditions. Varian stockholders had approved the takeover at a special meeting on October 15, 2020.

Siemens Healthineers still expects to close the merger with Varian in the first half of calendar year 2021.

Varian is a world leader in the field of cancer care, with innovative solutions especially in radiation oncology and related software. With a holistic approach to cancer care, the company is increasingly leveraging technologies such as artificial intelligence, machine learning and data analysis to further improve cancer treatment and expand access to care.

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Siemens Healthineers 2021

Siemens Healthineers AG (listed in Frankfurt, Germany: SHL) is shaping the future of healthcare. As a leading medical technology company headquartered in Erlangen, Germany, Siemens Healthineers enables healthcare providers worldwide through its regional companies to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving the patient experience, and digitalizing healthcare. Siemens Healthineers is continuously developing its product and service portfolio, with AI-supported applications and digital offerings that play an increasingly important role in the next generation of medical technology. These new applications will enhance the company’s foundation in in-vitro diagnostics, image-guided therapy, in-vivo diagnostics, and innovative cancer care. Siemens Healthineers also provides a range of services and solutions to enhance healthcare providers’ ability to provide high-quality, efficient care to patients. In fiscal 2020, which ended on September 30, 2020, Siemens Healthineers generated revenue of €14.5 billion and adjusted EBIT of €2.2 billion. Following the acquisition of Varian Medical Systems, Inc. the company has approximately 66,000 employees worldwide. Further information is available at www.siemens-healthineers.com.